Saudi PIF ranks 8th among world’s top SWFs with $480 bln assets

09/01/2022 Argaam Special


Saudi Arabia’s Public Investment Fund (PIF) maintained its eighth position among the world’s largest sovereign wealth funds (SWFs) by 2021-end, recent data from SWF Institute showed.

 

The Kingdom’s sovereign wealth fund assets increased by $30 billion to $480 billion, compared to $450 billion in October 2021.

 

The PIF targets to double its assets volume by 2025 to exceed SAR 4 trillion, equivalent to $1.066 trillion. Crown Prince Mohammed bin Salman recently stated that the fund aims to boost its assets to SAR 10 trillion, equivalent to $2.7 trillion, in 2030.

 

Elsewhere, Norway’s Government Pension Fund Global came on top position in the list, with assets standing at $1.3393 trillion.

 

China Investment Corporation (CIC) came in second with $1.2223 trillion worth of assets, followed by Kuwait Investment Authority ($737.9 billion).

 

The combined assets of the sovereign wealth funds hit $9.53 trillion from $9.23 trillion last October.

 

World’s 10 Largest Sovereign Wealth Funds in 2021

Ranking

Fund

Country

Asset ($ bln) in October 2021

Assets ($ bln) by 2021-end

Change

1

Government Pension Fund - Global

Norway

1339.28

1339.28

--

2

China Investment Corporation

China

1222.31

1222.31

--

3

Kuwait Investment Authority

Kuwait

692.90

737.94

45.04

4

Abu Dhabi Investment Authority

UAE

649.18

697.86

48.68

5

Hong Kong Monetary Authority Investment Portfolio

China

585.73

585.73

--

6

Government of Singapore Investment Corporation (GIC Private Ltd)

Singapore

545.00

545.00

--

7

Temasek Holdings

Singapore

484.44

484.44

--

8

Public Investment Fund

Saudi Arabia

450.00

480.00

30.00

9

National Council for Social Security Fund

China

447.36

447.36

--

10

Qatar Investment Authority

Qatar

354.00

366.74

12.74

 

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